Yes.
As for the quality, that really depends on what sort of input connectors you have available on the TV. If you have a VGA or DVI connector, then you're set in terms of quality. If not, then you can still use the TV as a secondary monitor, but with a drop in quality as you will be using either a RCA or S-Video cable. Whichever way you go, you will need some sort of mini-DVI adapter.
Check to see which connections you have available on your TV.